New product portfolio extends Celanese’s global nylon compounding
DALLAS, FRANKFURT & SHANGHAI–(BUSINESS WIRE)–
Celanese Corporation (NYSE: CE), a global technology and specialty
materials company, today announced it has completed the acquisition of
the nylon compounding division of Nilit, a major independent producer of
high performance nylon polymers and compounds. Financial details of the
transaction are not being disclosed at this time.
This acquisition further extends Celanese’s leadership position in the
engineered materials business to a global nylon solutions provider. The
acquisition includes Nilit Plastics’ nylon compounding product
portfolio, customer agreements and manufacturing, technology and
commercial facilities in Germany and China. In addition, the acquisition
is complementary to the company’s capabilities and track record of
innovation, quality and service.
As previously announced,
Nilit will retain ownership of its nylon fibers and nylon polymerization
businesses worldwide, including facilities in Israel, the United States,
China and Brazil.
Nylon compounds continue to be a material of choice in automotive, E&E,
consumer and industrial applications. This acquisition delivers on
Celanese’s intention to complement and grow its broad portfolio by
becoming a leading, global nylon compound supplier.
“Nylon is increasing in applications and end uses in growth industries
where Celanese is already focusing significant product, solution and
customer development activities,” said Scott Richardson, senior vice
president of the Celanese engineered materials business. “The addition
of the Nilit nylon compounding product portfolio will extend Celanese’s
engineered materials solutions offering, and when combined with the
company’s world-class operating model, we are well positioned to be the
first choice materials solutions provider for our customers.”
Celanese will integrate Nilit Plastics’ nylon compounding product
portfolio and production capabilities into its engineered materials
business to include the following registered brands:
FRIANYL® flame retardant grades for
electrical and electronics industries, meeting most stringent industry
requirements, and in almost all colors.
NILAMID® technical grades for industrial and
NILAMID® specialty portfolio for extended
performance requirements in terms of thermal, electrical, mechanical
and tribological properties in particular.
ECOMID® grades containing high-quality
polyamide fibers and textile recycled for a combination of quality,
high lot-to-lot consistency and competitiveness.
The most recent additions to the NILIT Plastics range, developed to
cater to new market trends, include “XS” and “XT” types. NILAMID® XS
grades are compounds based on semi-aromatic polyamides, and FRIANYL® XT
and NILAMID® XT, are compounds based on polyphthalamide (PPA)
provide superior performance, particularly in terms of high heat
resistance and mechanical strength.
Richardson concluded: “The combined portfolios of Celanese, SO.F.TER.
Group, and Nilit Plastics significantly increases the solution options
available to our customers across thermoplastics and elastomers. Our
combined polyamide portfolio will represent a broad range of PA6- and
PA6,6-based solutions delivering a range of functional capabilities and
modifications for customer needs globally.”
Celanese Corporation is a global technology leader in the production
of differentiated chemistry solutions and specialty materials used in
most major industries and consumer applications. Our two complementary
business cores, Acetyl Chain and Materials Solutions, use the full
breadth of Celanese’s global chemistry, technology and business
expertise to create value for our customers and the corporation. As we
partner with our customers to solve their most critical business needs,
we strive to make a positive impact on our communities and the world
through The Celanese Foundation. Based in Dallas, Celanese employs
approximately 7,300 employees worldwide and had 2016 net sales of $5.4
billion. For more information about Celanese and our product offerings,
or our blog at www.celaneseblog.com.
All registered trademarks are owned by Celanese International
Corporation or its affiliates.
This release may contain “forward-looking statements,” which include
information concerning the company’s plans, objectives, goals,
strategies, future revenues or performance, capital expenditures and
other information that is not historical information. When used in this
release, the words “outlook,” “forecast,” “estimates,” “expects,”
“anticipates,” “projects,” “plans,” “intends,” “believes,” and
variations of such words or similar expressions are intended to identify
forward-looking statements. All forward-looking statements are based
upon current expectations and beliefs and various assumptions, including
the announced acquisition. There can be no assurance that the company or
its customers will realize these benefits or that these expectations
will prove correct. There are a number of risks and uncertainties that
could cause actual results to differ materially from the forward-looking
statements contained in this release, including with respect to the
acquisition. Numerous factors, many of which are beyond the company’s
control, could cause actual results to differ materially from those
expressed as forward-looking statements. Other risk factors include
those that are discussed in the company’s filings with the Securities
and Exchange Commission. Any forward-looking statement speaks only as of
the date on which it is made, and the company undertakes no obligation
to update any forward-looking statements to reflect events or
circumstances after the date on which it is made or to reflect the
occurrence of anticipated or unanticipated events or circumstances.
Relations – Global
W. Travis Jacobsen, +1-972-443-3750
Relations Asia (Shanghai)
Helen Zhang, +86 21 3861 9279
Relations Europe (Germany)
Jens Kurth, +49(0)69 45009 1574
Source: Celanese Corporation